Economics & Management Information

Research on the Impact of Environmental Protection Investment and R&D Input on the Financial Performance of Heavily Polluting Industries

Wen Zhang, Lizi Yang — Wed, 29 Oct 2025 00:00:00 +0800

This paper examines the impact of environmental protection investment and R&D investment on the financial performance of heavily polluting enterprises in China. Using panel data from listed companies in the Shanghai and Shenzhen stock markets from 2008 to 2018, the study constructs multiple regression models to analyze both short-term and long-term effects. The results show: (1) environmental protection investment significantly improves short-term financial performance, and its positive effect becomes stronger in lagged measures; (2) R&D investment enhances short-term financial performance but may hinder long-term performance due to its high risk and the potential for insufficient follow-up investment to become sunk costs; (3) controlling for R&D input reveals a positive synergistic effect: coordinated R&D and environmental investment amplifies the positive impact of environmental investment on performance. The paper concludes with recommendations for firms and policymakers to align green investment with sustained innovation strategies.

Theoretical Logic, Practical Predicaments and Innovative Pathways for Promoting the Two-Way Flow of Urban and Rural Factors

Chuantong Jiang, Zhicai Qiu, Qi Huang — Fri, 31 Oct 2025 00:00:00 +0800

To address the imbalance and inadequacy in urban-rural regional development and advance the implementation of Guangdong Province’s High-Quality Development Project of Hundreds of Counties, Thousands of Towns, and Myriads of Villages, this study focuses on innovating the two-way flow mechanism of urban-rural factors and conducts systematic research integrating theoretical analysis and practical investigation. It first clarifies the theoretical logic of urban-rural factor flows, identifying that such flows cover both traditional factors (i.e., labour, land, capital) and new factors (i.e., data, technology, ecology), with a mutually reinforcing relationship between factor flow and urban-rural integration. Subsequently, the study dissects the practical impediments to factor flow in the project’s implementation: institutional barriers from fragmented policies and ambiguous property rights; market-level challenges including regional factor deficits and supply-demand mismatches; technological constraints arising from urban-rural digital infrastructure gaps and insufficient digital literacy; and governance shortcomings such as weak village collective capacity and inadequate risk prevention mechanisms. Finally, targeted innovative pathways are proposed to meet the project’s factor flow needs, encompassing institutional breakthroughs, market activation, technological empowerment, and governance coordination. This research provides practical insights for Guangdong to resolve urban-rural development imbalances and deepen the project’s implementation, while also offering Guangdong’s experience for promoting nationwide urban-rural integration.

Research on the Impact of EU Import Policies on China’s Industries and Human Resource Structure

Hui Cheng — Wed, 29 Oct 2025 00:00:00 +0800

The EU market legislation that prohibits products involving forced labor has an adverse impact on China’s industries and human resource structure, such as increasing trade barriers and technical frictions, and changing the economic cooperation model between China and the EU. Affecting the security of China’s industrial chain and supply chain, and hindering China’s economic development; Increasing the compliance risks and labor costs of our enterprises, and weakening the international competitiveness of our products; Significantly increasing the employment pressure in our country and altering the structure of our labor resources. Based on the study of the EU’s import policies and the investigation of the actual situation in China, this article puts forward the following countermeasures and suggestions: Firstly, the government provides policy support, actively facilitating the expansion of the survival space for Chinese enterprises in areas such as law, diplomacy and international cooperation. Then, at the enterprise level, strengthen supply chain management, reduce compliance risks, and enhance the resilience of the industrial chain. The third is to promote the reform of vocational education and the reconfiguration of skills, in order to address the structural contradictions in the labor force and optimize the labor resources. The fourth point is to expand employment channels and promote the coordinated transformation of the industrial structure and the employment structure.

Data-Driven Smart Governance for National Fitness Public Services

Qing Han — Mon, 27 Oct 2025 00:00:00 +0800

In the context of China’s Healthy China 2030 strategy and the rapid advancement of digital government initiatives, the governance of national fitness public services is undergoing a profound transformation. Traditional governance models characterized by fragmented supply, administrative centralization, and passive service delivery are increasingly challenged by the need for real-time responsiveness, personalization, and systemic coordination. This study explores the logic, structure, and pathways of data-driven smart governance in national fitness services. Drawing on the theoretical frameworks of data-driven governance and intelligent public service transformation, this paper first identifies the key governance dilemmas in the current national fitness system, including regional disparities, data fragmentation, and limited stakeholder participation. It then constructs a closed-loop governance mechanism comprising four layers: sensing, analysis, decision-making, and feedback. On this basis, the study proposes a three-dimensional governance pathway technological, organizational, and institutional, emphasizing platform integration, multi-actor collaboration, and regulatory support. This framework redefines the logic of service delivery, shifting from static, experience-based models to dynamic, algorithm-enabled governance systems. The findings offer both theoretical contributions to the field of smart governance and practical insights for improving the performance, equity, and adaptability of fitness-related public services.

The Transformative Impact of Digital Media on Consumption: A Case Study of the E-Commerce Platform the RED

Renjie Zang — Fri, 31 Oct 2025 00:00:00 +0800

Digital media has greatly influenced modern consumption patterns, transforming traditional purchasing behaviors into a multifaceted experience that combines culture, emotions, and social interactions. Traditional consumption consumers engaged with products directly in physical stores. However, with the rise of digital platforms, user-generated content has become a key part of the process. This change is especially evident in e-commerce platforms. The Red is a leading e-commerce platform in China that integrates user-generated content with online shopping, merging entertainment, community interaction, and shopping into one system. It demonstrates how digital media has constructed a consumption culture that goes beyond simple transactions, extending into lifestyle creation and emotional satisfaction. The Red encourages consumers to move through a dynamic cycle: from developing a purchase desire to achieving consumption satisfaction and then sharing their experiences, leading to more interactions. This process involves not only the purchase of commodities but also the construction of a unique social and lifestyle. This Essay focuses on the e-commerce platform The Red and explores how social media reshapes the relationship between digital and material consumption to change consumer behavior. It also examines how the diversity of platform content breaks the limits of traditional consumption, as well as The RED build emotional connections through user-generated content and guides consumers to change their minds from basic product needs to lifestyle pursuits. shaping a lifestyle-centered consumption pattern. And reflecting on the issue of over-consumption brought by the new consumption pattern. Finally, this essay aims to analyze how e-commerce platforms construct a new consumer culture.

Research on AI-Empowered Value Co-creation and Governance Mechanisms in Regional Innovation Ecosystems

Zhao Li, Zhimin Ren — Fri, 17 Oct 2025 00:00:00 +0800

With the deep penetration of artificial intelligence (AI) technology, regional innovation ecosystems are undergoing profound transformation. AI reshapes these ecosystems through four pathways-knowledge empowerment, optimized resource allocation, collaborative innovation promotion, and intelligent risk management-exhibiting four evolutionary characteristics: intelligence, platformization, openness, and adaptability. This forms a value co-creation cycle of “perception-matching-collaboration-evolution”. This study proposes a four-dimensional governance framework encompassing multi-stakeholder collaborative governance, data circulation mechanisms, intelligent regulatory systems, and dynamic incentive mechanisms. It provides theoretical guidance and practical pathways for governments to formulate regional innovation policies, enterprises to participate in ecosystem construction, and the deep integration of the digital and real economies. This research holds significant implications for enhancing regional innovation capabilities and building a modern industrial system.